If your company couldn’t make payroll, and you had savings, would you quit?

I have been working in business management / operations for over 17 years. I am very good at what I do and am well respected by my peers. The company I work for was sold, and the new owners are running it into the ground.

It started with millions spent on going public, but with no real backbone and foundation to the services they provide. It seems to have been much more of an ego trip (I get to be founder of a publicly traded company) than any sort of well thought out business plan.

After spending millions in preparing to go public, they stopped being able to pay vendors. And now, they have failed to make payroll. I am in a good place to where I do have good savings, but there is so much I’m worried about. I have been looking for a job every damn day, but no luck so far.

Knowing that I could make six months without work, and my spouse (not the primary bread winner) would support me in this decision, here are my questions / concerns. Answer any or all as you see fit because, as I sit here here in job purgatory waiting for another failed pay period, I can’t see the forest through the trees.

Should I quit? Would you?

Is not getting paid a good reason for a resume gap?

Aside from the FT work of finding a new job, I’m worried about just getting (more) depressed – what could I do to keep busy and feel like a contributing member of society?

Should I take one or two PT jobs (retail / hospitality) to at least have some income? Or, will that take up time I should be using to find something in my career path?

Side note: I am within 45 minutes of NYC, so have that as a major city for the job search.

I do tend to remain more optimistic than not and don’t get down about the constant rejection (mostly from AI) in my job search, but I am concerned that my optimism is at risk of leading me astray. For example, when I have my rose colored glasses on, I quit. My job search efforts get traction, and I’m only out of work for no more than two months. But, what happens when that two months becomes eight and I’m a middled aged person living off of ramen and rice with no end in sight to the joblessness? And, just like that, glasses are off and I’m sad…


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